Nancy Grover, the founder and president of NMG Consulting, a media/communications entity based in Florida, has a pretty good idea of "What works, and what you should be trying" when selling insurance to small business.
Grover says that savvy agents and major carriers are targeting small business with "renewed vigor" and states that, "Small business [...] is the great untapped market that holds a bounty of promise for the P&C industry."
Mike Seling, VP of business development/regional operations for Accident Fund Insurance Company of America, adds: "We love the small business market; it's the backbone of America."
There are eight key concepts Grover expands on:
1. Establish Trust
2. Know your Prospect
3. Realize that small-business owners are "Pressed for money & time"
"That owner is wearing many hats, concentrating on the business 12 to 14 hours a day,"
said Steve Tombarelli - VP of the SIAA's Business Insurance Advantage program.
4. Gain a presence - and Favor
"... maintaining a personalized identity on social media will help to position your agency as a knowledgeable, trusted team of professionals."
Nancy Grover, "Selling insurance to small business: What works, and what you should be trying | PropertyCasualty360"
5. Using social media to connect with business owners
" I use social media quite a bit to connect with business owners so they see who I am on a real level and vice versa,"
says J.P. Delaney, sales manager at Louisville, Ky,-based Logan Lavekke Hunt Insurance Agency LLC.
6. Perseverance & dedication
"As an independent agent, my small businesses live in my community, go to church with me, our kids play soccer together ... We're insuring relationships."
- Tom Barrett, president of the Midwest and Southeast regions of the Strategic Insurance Agency Alliance (SIAA).
7. Selling to the younger set
8. Being MORE AGGRESSIVE
"In the small commercial market, relationships are really important,"
- Steve Tombarelli